Lincoln & Wenk, PLLC
View Blog Navigation

3 huge reasons why you must have an estate plan

Don't think that you're too young to have an estate plan, or that you don't have enough assets. Don't assume that you can put it off and do it next year. Experts have noted that there are a few huge reasons why you need to get your plan in place right now, such as:

-- Protecting beneficiaries from themselves. Perhaps you're going to leave money to minors -- like your grandchildren -- or adults who you are afraid may waste it. Doing nothing and passing down cash can open the door to all sorts of mistakes that can be made with your hard-earned money. A proper estate plan can use trusts and other tools to control the money, avoid costly mistakes and protect both your estate and your heirs.

-- Avoiding the probate process. Having an estate plan in place means everything is done exactly how you want it to be done. You get to make the decisions, you get to be in control of your assets and you get peace of mind knowing your wishes will be respected.

-- Eliminating conflicts. If you don't have an estate plan, you leave a mess behind for your family to sort out. Not only is this stressful and time-consuming, but it can cause fights between family members. They may not all see eye-to-eye. Some family members may feel slighted. Multiple people could become bitterly angry over the division of assets -- which is happening at a highly emotional time, after all. When you have a plan, it helps to ensure that your family isn't divided for years to come.

Essentially, an estate plan allows the process to go smoothly, it gives you a voice and it helps your family on many fronts. Make sure you know what must be done to legally get a plan in place.

Source: The Balance, "Top 5 Reasons Why You Need an Estate Plan," accessed Jan. 06, 2017

No Comments

Leave a comment
Comment Information
  • Super Lawyers
  • 2015 ARAG | Elite Service Provider
  • AV | Peer Review Rated for Ethical Standards & Legal Ability | Preeminent | Martindale-Hubbell from LexisNexis
  • American Association for Justice | Formerly the Association of Trial Lawyers of America (ATLA)
  • Arizona Association of Family Law Attorneys - AZAFLA
  • Lincoln & Wenk, PLLC BBB Business Review
  • Association of Top 100 2019 | American Trial Lawyers
  • American Academy Of Trial Attorneys | AATA | Premier 100 | 2015
  • Family Law | Top 10 | Attorney And Practice Magazine's | 2018 | Attorney
  • Top Valley Lawyers 2017 | North Valley Magazine
  • American Institute of Family Law Attorneys | 10 Best 2017-2018
  • Veteran Owned Business - A Registered Vetrepreneur on Buyveteran.com - 2014
  • Avvo Top Attorney
  • Avvo Client's Choice
Email Us For A Response

Need legal help from an attorney?
Contact us now to schedule a consultation with our lawyers

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

Goodyear Office:
1616 North Litchfield Road
Suite 140
Goodyear, AZ 85395

Phone: 623-748-4890
Fax: 623-536-1984
Goodyear Law Office Map

Peoria Office:
14050 N. 83rd Avenue
Suite 290
Peoria, AZ 85381

Phone: 623-748-4890
Fax: 623-536-1984
Map & Directions

Phoenix - Desert Ridge Office:
20830 N. Tatum Blvd
Suite 210
Phoenix, AZ 85050

Phone: 623-748-4890
Fax: 623-536-1984
Phoenix Law Office Map